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Monday, August 31, 2015

ODNR Releases New Oil, Gas Numbers

The Ohio Department of Natural Resources this week released the second quarter 2015 results for oil and gas production. During Q2, Ohio's horizontal shale wells produced 5,578,255 barrels of oil and 221,860,169 Mcf (or 221 billion cubic feet) of natural gas, the ODNR reported. "These numbers break all previous production reporting records for the last 100 years," ODNR said in a release. The numbers mark an increase over the 3.1 million barrels of oil and 133 billion cubic feet of gas produced in Q2 2014. Year-to-date, 2015 has seen the production of more than 10 million barrels of oil and 400 million Mcf of gas - a 126% and 160% increase respectively from the first half of 2014 ODNR's report lists 1,020 wells with 978 of them reporting production. Forty-two wells, meanwhile, reported no production as they were waiting for pipeline infrastructure.